The type of forex broker that you select depends upon your forex trading style and your trading needs. A broker might be suitable for one trader but it might not suitable for another trader. While selecting a forex trading broker, you have to make important decisions. You have to determine whether a broker forex is an ideal person and is hundred percent suitable for your forex trading type or not.
Another most important thing to decide is whether you would like to choose a forex broker who would take a commission on every trade that you make with wide spreads or you would prefer to choose the one that offers you a tight forex spread.
Generally, a scalper and the trader might like to choose a tighter forex spread because in tight forex spread it is easier to earn small profit as well. If you are trading at long term position or if you are a swing trader then wider spreads are really insignificant you. Some of the popular regulated forex brokers are as follows:
Retail Market Maker
A vast majority of
online forex trading brokers belongs to this category. A retail market maker is almost a complete trading platform for a novice trader. They vary from other types of forex brokers in many respects and they also offer huge range of services to their clients. Most of the forex online traders like to connect with the retail market makers because most of them provide direct access of the forex trading platform to their customers. A perfect example of retail market maker is IFX, Gain Capital and FXCM.
Institutional Market Makers
Institutional market makers are closely associated with forex online trading market and almost all of them have direct association with the forex exchange market. They are just ideal for the beginner forex traders but the only draw back is a trader has to spend huge amount of money in order to get their services. FXALL is a great example of institutional market makers.
Forex trading broker
Such types of forex trading brokers have direct connections to the forex exchange market. Institutional forex online trading brokers are generally consisting of a pool of approximately 200 trading banks. Only banks can work as an institutional forex therefore, it is quiet impossible for a young trader to get the services of an institutional forex brokers. ICAP is a great example of institutional forex dealer.